Week 30 – Market Update
The keyword of the week is consistency. For the most part, the pattern established over the course of the last month has held fairly firm for the Vancouver real estate market.
Sales are hovering at similar levels across the city for just about all housing types. At the same time, we are seeing inventory levels increase but not alarmingly.
The most significant strength is still seen in East Vancouver houses where this past week saw 50% of sales over the asking price.
Vancouver West (Westside)
Westside detached homes had another week of steady sales. Meanwhile, listing inventory rose but new listings did not flood the market. With the median price exceeding the average price for the first time this year, it indicates that for this particular week there was significantly more sales activity at the lower end of the price scale.
Meanwhile, Westside Apartments had their strongest week of the year with 49 sales (the previous high was 44). Inventory still rose...